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Operations Management Planning Is Concerned with Finding the Ideal Location

question 17

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Operations management planning is concerned with finding the ideal location for a business and also with materials requirement planning. It leaves decisions about purchasing and inventory control to marketing.


Definitions:

Product Portfolio

The collection of all products or services offered by a company, considered especially in terms of their relative competitive positions and market appeal.

New-product Protocol

A guideline or plan that outlines the process of developing and launching a new product, including stages from initial idea generation to market launch.

Environmental Scanning

The ongoing process of collecting information about external factors that might affect an organization's future plans and operations.

SWOT Analysis

A strategic planning tool that evaluates the strengths, weaknesses, opportunities, and threats related to a project or business venture.

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